Purchasing the plots of land for Airport Rail Link Project

ST.010/2006/0042 June 6th, 2006 Subject : Report on Resolutions of the Board of Directors Meeting No. 2/2006 To : Directors and Manager of the Stock Exchange of Thailand Whereas Sino-Thai Engineering & Construction Public Company Limited (the "Company") has leased the land title deed No. 1825 located at Nhongpaikaew Sub-District, Banbaung District, Chonburi Province from Chonburi Concrete Product Public Company Limited. Since, the Company intended to develop the land and construct the Precasted Segment for the operation of Airport Rail Link project. Moreover, a cost per unit of the Company can be controlled effectively in case the Company intends to bid for other projects in the future. The Company therefore wishes to purchase the said plots of land for the purpose of longterm investment and to use the lands in other projects. The Board of Directors of Meeting No. 2/2006 on June 5th, 2006 during 10.45 hours - 12.10 hours at the Conference Room of the Company located at Sino-Thai Tower, 25th Floor, No. 32/55 Sukhumvit 21 Road (Soi Asoke), Kwaeng Klongtoey Nua, Khet Wattana, Bangkok Metropolis, adopted unanimously resolution on the purchase of the said two (2) plots of land. Details are as follows: 1. The Company shall purchase the land under the land title deed No. 1825 located at Nhongpaikaew Sub-District, Banbaung District, Chonburi Province, with the total area of 69 Rai 53 Square Wah, at the purchase price of Baht 750,000 (Seven Hundred and Fifty Thousand Baht) per Rai, totaling Baht 51,849,375 (Fifty-one Million Eight Hundred Forty-nine Thousand Three Hundred and Seventy-five Baht) from Chonburi Concrete Product Public Company Limited, who is not the connected person of the Company. The registration of the transfer of ownership of land will be made within 30 days from the date of execution of agreement or by July 6th, 2006. The total purchase price will be paid on the registration date of the transfer of ownership of land. 2. The Company shall purchase the partial area of land under the land title deed No. 16336 located at Nhongpaikaew Sub-District, Banbaung District, Chonburi Province, with an area of 31 Rai 3 Ngan 13 Square Wah, at the purchase price of Baht 750,000 (Seven Hundred Fifty Thousand Baht) per Rai, totaling Baht 23,836,875 (Twenty-three Million Eight Hundred Thirty-six Thousand Eight Hundred and Seventy-five Baht) from Chonpratheep Property Co., Ltd., who is not the connected person of the Company. The registration of the transfer of ownership of land (co-ownership) will be made within 30 days from the date of execution of agreement or by July 6th, 2006. The total purchase price will be paid on the registration date of the transfer of ownership of land. The Company would inform that the said transaction does not fall within the criteria of the Stock Exchange of Thailand Regulations governing connected transactions of listed companies and the acquisition or the disposal of assets of listed companies. The Company provides this information for your acknowledgment and dissemination to the public and other investors. Sincerely yours, Sino-Thai Engineering & Construction Plc. (Mr. Vallop Rungkijvorasathien) President